Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Industry News

| More

Muthoottu Mini's NCD Public Issue Open, Effective Annualized Yield up to 10.47%*

Posted On: 2021-08-20 16:48:20 (Time Zone: IST)


Incorporated in the year 1998, a systemically important non-deposit taking NBFC in the gold loan sector, Muthoottu Mini Financers Limited ("Muthoottu Mini" / 'MMFL'), public issue of Secured and Unsecured Debentures ("NCDs") of the face value of Rs. 1,000 each is now open.

The 15th NCD Issue has a Base Issue Size of Rs. 125 crores, with an option to retain over-subscription up to Rs. 125 crores, aggregating up to a total of Rs. 250 crores. The NCD Issue offers various options for subscription of NCDs with coupon rates ranging from 8.75% - 10.00% p.a. The NCD Issue opened on August 18, 2021 and closes on September 09, 2021, with an option of early closure or extension.

The 15th NCD Issue is rated as 'CARE BBB+': Stable (Triple B Plus: Stable) by CARE Ratings Limited. The 15th NCD Issue offers effective annualized yield of up to 10.22% p.a. on redemption# for Secured NCDs and 10.41% p.a for Unsecured NCDs.

The 15th NCD Issue opened on August 18, 2021 and closes on September 09, 2021 (with an option of early closure)

As on 31st March 2021, MMFL had 3,86,110 gold loan accounts, predominately from rural and semi urban areas, aggregating to Rs. 1,935.10 crores which accounted for 97.04% of its total loans and advances. The yield on its gold assets during the last three fiscals have increased from 19.17% in FY2019 to 19.57% as on FY2021. Its net Non-Performing Assets for FY2021 stood at 0.75%, which is lower from 1.39% reported in the FY2019.

In addition to its gold loan business, it offers micro finance loan, depository participant, money transfer, insurance broking, PAN card related and travel agency services.

The Company, erstwhile part of a family business enterprise that was founded by Ninan Mathai Muthoottu in 1887, is now spearheaded by Nizzy Mathew, Chairwoman & Whole-time Director and Mathew Muthoottu, Managing Director.

The terms of each options of NCDs, offered under Issue are set out below:

Net proceeds of the Issue will be utilized for the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the Company (at least 75%) - and the rest (up to 25%) for general corporate purposes.

The Secured and Unsecured NCDs offered through Prospectus dated August 13, 2021 are proposed to be listed on the BSE.

The Lead Manager to the Issue is Vivro Financial Services Private Limited.

MITCON Trusteeship Services Limited is the Debenture Trustee and Link Intime India Private Limited is the Registrar to the Issue.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Odisha bets on the Speciality Steel to join advanced steel making countries like Japan and South Korea

CRISIL awards highest grading to Muthoot Microfin for fourth consecutive year

Tata Capital introduces Digital 'Loan Against Mutual Funds'

India Post Payments Bank in Strategic Alliance with Tata AIG General Insurance for Non-Life Insurance Products

JLL names Indian-origin Siddharth Taparia as Chief Marketing Officer

PharmEasy to hire 200+ engineers and launch New Development Centres in Hyderabad, Pune & NCR

Kotak Special Situations Fund invests Rs 1000 crore in TVS Supply Chain Solutions Limited & promoters of TVS Family

SBM Bank India collaborates with Lendingkart to market unique tailormade Overdraft facility

SBM Bank India Collaborates with OneCard to extend mobile-based credit cards

SVC Bank appoints Mr. Ashish Singhal as Managing Director

Liberty General Insurance offers special Travel Insurance for flight bookings on Yatra

India Ratings upgrades Muthoottu Mini Financiers debts instruments Ratings

BANKIT expects Rs 30,448-cr gross transaction value in current fiscal

Flipkart Wholesale plans to more than triple footprint in India by December to serve Kiranas

Go First, strengthen global presence through partnership with WorldTicket and Discover the World

Paytm Insurance Broking has 11.3 million customers who bought over 31 million insurance products

CreatorStack raises US$ 2mn in seed, led by Accel

Go First inducts 49th Airbus A320Neo Aircraft to its fleet

India INX expands product portfolio and permit trading in international stocks

Yamuna International Airport Pvt Ltd achieves financial close for Noida International Airport development

Tribal Women of Raj Uphaar Power Go First's New In-Flight Menu

BOI AXA Investment Managers appoints CEO

Revery raises US$2 million in pre-seed funding led by Sequoia Capital India

JLL launches residential property portal JLLHomes.co.in

Bharat Biotech's ROTAVAC 5D® Receives WHO Prequalification

B2B FMCG wholesale platform Apnaklub raises US$3.5 million in funding from Sequoia Capital India's Surge

Snapdeal's fashion sales up 210% in 2021

Strata raises $6 million in Series-A funding led by Kotak Investment Advisors, Gruhas Proptech, Sabre Investments and existing investors

Home Credit India is now Great Place to WorkR 2021 Certified

Housing sales may see a spurt of 20-35 % in the upcoming monsoons months: JLL

Meesho Becomes the First E-commerce Marketplace to Offer Zero Percent Commission to Sellers

Media processing company Gumlet raises USD$1.6 million in funding led by Sequoia Capital India's Surge

Fino Payments Bank's QR code based UPI solution to drive P2M digital payments

CM Naveen Patnaik performed Inauguration/ Ground-breaking of 14 industrial projects worth INR 1,537.07 Crore

GO FIRST Marks a stellar growth in market share to 8.3%

Vikram Solar becomes India's largest module manufacturer with upto 2.5 GW capacity

Sales share of Noida and Greater Noida in NCR was 49% in H1 2021: Report

Light Microfinance garners US$ 10 million in Series-A funding

Zurich Airport International AG signs shareholder agreement for the development of Noida International Airport

Alstom begins manufacturing of modern commuter & transit trains for Delhi-Ghaziabad-Meerut RRTS project

FedEx Express and Delhivery Come Together to Unlock Cross-Border Potential in India

Bridgeweave launches AI-powered InvestorAi - Your Personal Investment Analyst

TO THE NEW becomes a Partner of Google Cloud Platform

RAIN Technologies proudly launches RAIN TRADER, a marketplace for fully automated, algorithmic investing and trading models

Safexpress launches its 62nd ultra-modern Logistics Park in Navi Mumbai

DBS Bank India grows profitability despite impact from amalgamation of Lakshmi Vilas Bank

Green Soul raises Rs 1.5 Cr in revenue-based financing from Velocity

Liberty General Insurance Launches #Liberty365

CapitaLand launches second S$400 million logistics private fund in India

SBM Bank India collaborates with Drip Capital to empower MSME Exporters


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020